AMR's creditors OK US Airways merger plan

AMR's (AAMRQ.PK) creditors have overwhelmingly approved the airline's plan to merge with US Airways (LCC) and exit bankruptcy.

The deal now needs court authorization, as well as the backing of the U.S. Justice Department, which is analyzing the antitrust implications, and that of the EU.

Under the merger, AMR's creditors, staff and shareholders will receive 72% of the combined company, while US's investors will get 28%.

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Comments (1)
  • TennisMatch
    , contributor
    Comment (1) | Send Message
    Retired CEO after 30 years. My son is 777 Pilot, and agree the payout to Horton is not warranted. The Airlines should give him his due severence and allow him to purchase stock in the new Company and take the same risk we all take.
    Gene N.
    4 Aug 2013, 07:33 PM Reply Like
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